(1) Paragraph (2) applies in relation to each licence or authorisation granted by the Secretary of State which -

(a) was in effect immediately before the relevant date, and

(b) authorises an act -

(i) which would otherwise be prohibited by any provision of the Export Control Order 2008 except article 20 of that Order (embargoed destinations), and

(ii) which would (on and after the relevant date, and in the absence of paragraph (2)) be prohibited by Part 5 (Trade), and such a licence or authorisation is referred to in this regulation as an "existing trade licence".

(2) A licence is deemed to have been issued by the Secretary of State at the beginning of the relevant date under regulation 34 (trade licences) -

(a) disapplying every provision of Part 5 which would, in the absence of this paragraph, prohibit any act authorised by the existing trade licence, and

(b) otherwise in the same terms as the existing trade licence.

(3) Paragraphs (4) to (6) apply to a licence or authorisation granted by the Secretary of State which -